2026-04-10T13:59:04-05:00 2025-09-30 010463013 Purdy Powers & Company 130 Middle Street Portland ME 04101 990 2024-10-01 010528014 Maine Farmland Trust MAIN 2073386575 97 Main Street Belfast ME 04915 Kristin Varnum VP/CFO 2073386575 2026-04-09 1 1 Maria M Happnie CPA P01793776 2077753496 2026-04-09 2024 2025-03-06 01:10:19Z Kristin Varnum 97 Main Street Belfast ME 04915 8367459 0 X www.mainefarmlandtrust.org X 1999 ME Maine Farmland Trust protects farmland, supports farmers, and advances the future of farming. 13 13 47 0 0 0 6795723 8037275 20571 30196 -1648322 236409 5569 2875 5173541 8306755 147855 1091762 0 0 3473132 3941104 0 0 783724 3007780 2845050 6628767 7877916 -1455226 428839 26990758 27539021 1595953 812599 25394805 26726422 X Maine Farmland Trust protects farmland, supports farmers, and advances the future of farming. 0 0 2921872 413702 7374 FARMLAND PROTECTION: Permanently protected farmland through acceptance of donated agricultural conservation easements, purchase of agricultural conservation easements, and purchase, protection, and resale of farms. This year, MFT completed 10 land protection projects, protecting 1,837 acres of land. 629026 500 STEWARDSHIP: The Stewardship program is responsible for monitoring protected farmland to ensure that the conservation values of the property are protected forever. This period, MFT completed annual easement monitoring for 304 easements, covering over 45,215 acres. 588292 1748 EDUCATION & OUTREACH: Provided workshops, presentations, regional meetings and displays at agricultural and related events to present both general and technical information about MFT's work. Hosted a variety of events to increase public awareness about the challenges farmers face and educate about MFT's work to protect farmland and support Maine farms through our programs and policy efforts. 2360744 678060 22322 FARMLAND ACCESS: Collaborated with external partners to address systemic and individual farmland access and transfer challenges. Operated FarmLink, which matches prospective farmers with landowners that have farms available for lease or sale. This period, through our FarmLink program, 642 acres of farmland remained in farming or were brought into production by new farmers through 5 farm links.FARM BUSINESS PLANNING: Directly supported farmers with business planning, offering training and technical assistance to farmers. This period, our farm business planning program served 65 unique farm businesses with 90 engagements in workshops, technical assistance and grants.CLIMATE: Improved viability of farms through increased understanding of their land and adaptation to climate risks and connecting to resources. This period, our Climate Resilience team supported 57 farm businesses with technical assistance support and/or climate resilience grants.PFAS RESPONSE: Directly supported farmers affected by PFAS by providing education, technical assistance, and grants to support farms affected by PFAS. This period, 11 farms were directly supported with PFAS related grants.POLICY & RESEARCH: Worked on federal, state, and municipal policy issues that affect Maine farms, and engaged in those policy areas that directly impact our ability to protect farmland, support farmers, and advance the future of farming. Conducted research and prepared reports and articles to inform MFT's policy work, support other MFT program areas, and educate policymakers and the public about issues affecting Maine agriculture. 2360744 678060 22322 6499934 1 1 0 1 0 0 1 0 0 1 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 79 0 47 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 ME MA X Kristin Varnum 2073386575 97 Main St Belfast ME 04915 Dave Colson Chair 6.00 X X 0 0 0 Margot Anne Kelley Vice Chair 5.00 X X 0 0 0 Justin Jamison Treasurer 4.00 X X 0 0 0 Alix Hopkins Secretary 2.00 X X 0 0 0 Jason Bolton Director 1.00 X 0 0 0 Amanda Bunker Director 2.00 X 0 0 0 Steve Crane Director 2.00 X 0 0 0 Caitlin Frame Director 2.00 X 0 0 0 Lauren Giroux Director 2.00 X 0 0 0 Don Perkins Director 2.00 X 0 0 0 Tom Settlemire Director 2.00 X 0 0 0 Drew Sigfridson Director 2.00 X 0 0 0 Henry Whittemore Director 2.00 X 0 0 0 Kristin Varnum Interim President 40.00 X 178869 0 23007 Stacy Brenner President 40.00 X 60612 0 2121 239481 0 25128 1 0 1 0 Drummond Woodsum 84 Marginal Way STE 600 Portland ME 04101 Legal 129698 1 176578 7860697 419492 8037275 Food hub rental 532000 20112 20112 Farmland rental 532000 7374 7374 Interest on program lo 900099 2210 2210 Easement amendments 900099 500 500 30196 237613 237613 59500 60704 -1204 -1204 -1204 1748 0 1748 1748 Miscellaneous 900099 1127 1127 1127 8306755 31944 0 237536 1091762 1091762 201876 143195 26498 32183 3025917 2202334 310393 513190 113821 81592 12808 19421 334201 251071 38674 44456 265289 186661 34986 43642 158375 156794 1581 36289 36289 209824 184502 16301 9021 17546 17546 26510 20380 2861 3269 177644 119936 20798 36910 94447 68828 13223 12396 114995 93934 11125 9936 32346 22529 5726 4091 77752 55398 10448 11906 36956 29406 5240 2310 Purchased easements 1398524 1398524 Farm business planning 52642 52642 Policy and research 24144 24144 Farmland ownership 20043 19730 313 367013 279026 46994 40993 7877916 6499934 594258 783724 274951 357118 7946892 4497334 1062650 1153721 142530 4629 561843 331052 28953 29350 2082524 544120 1562749 1538404 54111 15356079 19627413 26990758 27539021 241679 294165 651747 328436 697602 189998 4925 1595953 812599 X 19155829 18862346 6238976 7864076 25394805 26726422 26990758 27539021 X 428839 902778 X 0 1 X 1 0 X 5494634 7887751 3976468 6795723 8037275 32191851 5494634 7887751 3976468 6795723 8037275 32191851 12799794 19392057 30270 50146 240646 312556 237613 871231 4128 4128 5925 2259 5569 1127 14880 33082090 0.58620 0.96020 X Part II Because of a change in fiscal year-end, Part II, Section A columns represent the following tax periods: Column A: 01/01/2021 - 12/31/2021 Column B: 01/01/2022 - 12/31/2022 Column C: 01/01/2023 - 09/30/2023 Column D: 10/01/2023 - 09/30/2024 Column E: 10/01/2024 - 09/30/2025 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1072 1957 3029 7874887 7877916 543896 135974 0 0 371238 506558 481438 543896 1903130 2854695 2500 4130 1598 3029 11257 92810 126640 120360 135974 475784 713676 1250 1110 410 1072 3842 304 45215.36 4 1 1 10695.00 610943 267056 2348364 301519 57736 22630 2836573 15199 250000 2744 665 222 267056 14884 1022 532 175 15199 17977 -2079 780 234 14884 16077 3277 1037 340 17977 0.00640 0.99360 1 0 277715 277715 1554454 365592 1188862 171755 127839 43916 78600 50689 27911 1538404 Artwork held for sale 8570800 Beneficial interest in assets held by others 9038180 Farms and farmland 1339436 Deposit and other acquisitions costs 678997 19627413 X 9209533 902778 902778 8306755 0 8306755 7877916 0 7877916 0 7877916 Part X, Line 2: Management of the Organization believes it has no material uncertain tax positions and, accordingly it will not recognize any liability for unrecognized tax benefits. Part XI, Line 2d - Other Adjustments: Change in beneficial interest Part II, Line 3 - Easement Modifications: Tremblay (B), Embden - The easement was acquired via MFT's purchased easement program on 7/16/2020. The landowner wanted to exercise their right to establish the permitted Farmstead Area. A supplement designating the Farmstead Area was recorded on 11/08/2024. Fitzgerald, Charleston and Atkinson - The easement was acquired via donation on 6/2/2008. The easement required that the parties supplement the easement to clarify the farming and forest areas within the easement after the date of acquisition. The supplements clarifying these areas were recorded on 12/10/2024. Roberts Farm, Corinth - The easement was acquired via MFT's purchased easement program on 10/6/15. While reviewing the landowner's notice regarding construction of the permitted dwelling, MFT staff learned of a drafting error in the easement Exhibit B. MFT determined that a corrective amendment was necessary and an amendment correcting Exhibit B was recorded on 7/28/2025. True Farm IV, Mercer - The easement was acquired via donation on 6/29/2007. The landowner wanted to exercise their right to establish the permitted Farmstead Area. An amendment establishing the Farmstead Area was recorded on 8/15/2025. Part II, Line 5 - Written Policy: Maine Farmland Trust monitors each conservation interest annually - either with aerial monitoring or physical inspections - to ensure that conservation values are preserved and the terms of easements and deed restrictions are upheld. When a violation is suspected, staff work with legal counsel to evaluate the situation and undertake the best course of action and resolution. Part II, Line 9 - Accounting for Conservation Easements: Financial Statement Text: It is the policy of the Organization to not recognize any amount in the financial statements for the donation of an easement as it has no economic value. The costs of purchased easements are reflected as an expense. No amount is capitalized for the acquisition of an easement as it is not a fee simple property. Part V, Line 4 - Intended Uses for Endowment Funds: Endowment fund earnings are intended to benefit the general operations of the Organization. Part XI - Line 2D - Other Adjustments Change in beneficial interests 1 Buckle Farm 43 Fisher Road Unity ME 04988 5661 0 Climate Resilence Assistance Grant Little Ridge Farm 101 Gould Road Lisbon Falls ME 04252 10000 0 Climate Action Plan Grant and Climate Resilence Assistance Grant Six River Farm 52 Centers Point Road Bowdoinham ME 04008 10000 0 Climate Action Plan Grant and Climate Resilence Assistance Grant Misty Brook Farm 156 Bog Road Albion ME 04910 18090 0 Farming for the Long Haul Implementation Second Frost Farm 554 Dickey Hill Road Monroe ME 04951 55000 0 Farming for the Long Haul Implementation Old Crow Ranch 427 Davis Road Durham ME 04222 55000 0 Farming for the Long Haul Implementation Fields Fields Blueberries 565 Blinn Hill Road Dresden ME 04342 15000 0 Wild Blueberry Innovation Grant Brigreen Farms 278 Upper Street Turner ME 04282 65000 0 Farming for the Long Haul Implementation Brodis Blueberries 367 Buzzell Hill Road Hope ME 04847 15000 0 Wild Blueberry Innovation Grant Lost & Found Farm PO Box 174 Gray ME 04039 15000 0 Wild Blueberry Innovation Grant 4 Labs Farm 756 Bangor Road Troy ME 04987 5086 0 PFAS Infrastructure & Wellness Dostie Farm 68 Middle Road Fairfield ME 04937 138634 0 PFAS Infrastructure & Wellness Keith Hunter 234 Town Farm Road Unity ME 04988 107457 0 PFAS Infrastructure Niweskok 214 Curtis Road Swanville ME 04915 990753144 413702 0 Land Return & Goose River Farm Purchase New Learning Journey Inc 700 Bragg Hill Road Waitsfield VT 05673 474879926 10000 0 Medicine Wheel farmland protection acquisition project 2 15 Part I, Line 2 - Procedures for Monitoring the USe of Grant Funds Grants are not monitored, per se. X X X 0 0 0 0 0 0 0 0 0 Kristin Varnum Interim President 178869 0 0 0 0 0 0 0 23007 0 201876 0 0 0 X 3 341608 See Part II 2 0 1 0 Part I, Line 33: Two easements were donated during the year, no value has been recorded for these donations. Part I, Column D In addition to two easements, there was a bargain sale purchase of farmland. An appraisal is the method of determining contribution amount. Form 990, Part VI, Section A, line 6 Individuals paying the minimum annual membership dues. Form 990, Part VI, Section A, line 7a Members vote at the annual meeting to elect the Board of Directors. Form 990, Part VI, Section B, line 11b Form 990 is provided to the Treasurer by the paid preparer. The Treasurer reviews and makes a recommendation and passes the 990 with his recommendation to all the directors. The directors are to respond within four days. If any response not to file is presented, the paid preparer will be asked to file an extension, if necessary, otherwise the 990 will be filed as presented. Form 990, Part VI, Section B, line 12c Annually, each director, employee, intern, regular volunteer, and committee member shall sign an acknowledgement of the conflict of interest policy affirming that such person: A. Has received a copy of the conflicts of interest policy, B. Has read and understands the policy, C. Has agreed to comply with the policy, and D. Understands that MFT is a charitable tax exempt organization and that in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax exempt purposes, and avoid private inurement, impermissible private benefit. Form 990, Part VI, Section B, line 15 Compensation Process for President and Other Officers: When a new president is hired, compensation shall be set by the Board of Directors following a review of compensation levels at other Maine non-profit organizations with comparable budgets and programs. This review shall serve as guidance to the board, but not the only determinant of compensation level. Future adjustments in compensation may be made by the board as it sees fit. Normally, this will occur through the annual budget process. The board may consider increases in compensation as cost of living adjustments, as the result of organizational growth, and/or to reward exceptional job performance. The board may also consider decreases in compensation, depending on the fiscal health of the organization and/or job performance. Before making any compensation adjustment in excess of 5% (up or down), the board shall once again review compensation levels at other Maine non-profit organizations to guide its direction. All other staff are hired by the President. When a new employee is hired, compensation is set by the President based on several factors, including (but not limited to): the new employee's skills and experience; equity with other MFT staff doing similar work; and a review of compensation levels for similar jobs at other Maine non-profit organizations. Future adjustments in compensation may be made by President, normally following an annual performance review as part of the annual budget process. The President may consider increases in compensation as cost of living adjustments, as the result of changes in job description, and/or to reward exceptional job performance. In extraordinary circumstances, the President may also consider decreases in compensation. Form 990, Part VI, Section C, line 19 Maine Farmland Trust's books and records are available for inspection by the public upon written notice at least five business days before the date of inspection. Form 990, Part XI, line 9: Change in beneficial interest 902,778.